Industrial Credit Act, 1933

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Charge of moneys on the Central Fund.

6.—(1) All moneys from time to time required to meet payments required to be made by the Minister to the Company in respect of any shares taken up by him under this Act shall be charged on and paid out of the Central Fund or the growing produce thereof.

(2) For the purpose of providing money for the sums charged on the Central Fund by this section the Minister may borrow from any person and the Bank of Ireland may advance to the said Minister any sum or sums to meet the sums charged on the Central Fund or the growing produce thereof by this section, and for the purpose of such borrowing the Minister may create and issue securities bearing such rate of interest, and subject to such conditions as to repayment, redemption or otherwise as he shall think fit.

(3) The principal and interest of any securities issued under this section and the expenses incurred in connection with the issue of such securities shall be charged on the Central Fund or the growing produce thereof.

(4) Any money raised by securities issued under this section shall be placed to the credit of the account of the Exchequer and shall form part of the Central Fund and be available in any manner in which such Fund is available.